Loan Modification

Working With Your Lender To Protect Your Home

Loan Modification Negotiations Resulting in Lower Mortgage Payments

At The Law Offices of Richard B. Rosenblatt, PC, we undertake efforts to assist our clients with loan modifications as an alternative to a Chapter 13 bankruptcy filing. While in many cases it is difficult to obtain loan modifications, the lenders are becoming more agreeable and developing ways to allow us to solve mortgage problems by modifying the loan payments and putting the loan arrearage balance into the new modified loan. We have designed a loan modification application form that assists in servicing our clients' needs by obtaining the information that will be required from the lender for consideration of a loan modification. We also have experience and skill at assisting our clients in obtaining approved loan modifications by advocating the client's financial hardship and by providing information demonstrating that the loan modification is feasible.

More and more loans are being modified as our government is requiring lenders to provide assistance to help people keep their homes. However, effective representation is required to make sure that the efforts to modify your loan have the greatest chance for success.

The information listed below is helpful in our efforts to assist you in the loan modification process:

• Handwritten letter explaining your hardship. (We will assist you in preparing this letter after you provide an initial draft).
• Two (2) current pay stubs for you and your spouse.
• The most recently filed federal income tax return.
• Two (2) current bank statements for all accounts.
• A completed Authorization to Disclose Information to Attorney.
• The most recent correspondence from your mortgage servicing company.
• The most recent statement concerning the amount owed on your mortgage(s) and account information.
• A completed financial statement signed by the borrower and co-borrower (if any).

Contact The Law Offices of Richard B. Rosenblatt, PC

If you are behind on your mortgage payments, then please contact us at your earliest convenience so that we may work with your lender to determine whether your loan can be modified. It is best to begin this process early since the lenders are often slow in reacting to the thousands of loan modification requests that they are receiving. The lender will often continue on the path to foreclosure while your loan modification application is being processed. At The Law Offices of Richard B. Rosenblatt, PC, we offer a free consultation to every prospective client. Call us today at 301.637.0402 to schedule an appointment.